For those homeowners who have been suffering with the thoughts of having their houses foreclosed upon, President Obama put into effect the “Obama’s Loan Modification Program” to help those in need of losing their homes and to help make it more affordable to pay their monthly mortgage payments.
Do You Qualify?
1. Do you live in the home?
2. Is your current loan amount within the Fannie Mae conforming limits ($625,500 in high cost areas
and for other areas it is $417,000)
3. Are your current house payments more than 31% of your gross income?(Loan modification kits can
help with all financial calculation your lender may want to see)
4. Are you must be able to prove you have current income?
5. Do you currently have a job?
1. Do you live in the home?
2. Is your current loan amount within the Fannie Mae conforming limits ($625,500 in high cost areas
and for other areas it is $417,000)
3. Are your current house payments more than 31% of your gross income?(Loan modification kits can
help with all financial calculation your lender may want to see)
4. Are you must be able to prove you have current income?
5. Do you currently have a job?
1. Do you live in the home?
2. Is your current loan amount within the Fannie Mae conforming limits ($625,500 in high cost areas
and for other areas it is $417,000)
3. Are your current house payments more than 31% of your gross income?(Loan modification kits can
help with all financial calculation your lender may want to see)
4. Are you must be able to prove you have current income?
5. Do you currently have a job?
1. Do you live in the home?
2. Is your current loan amount within the Fannie Mae conforming limits ($625,500 in high cost areas
and for other areas it is $417,000)
3. Are your current house payments more than 31% of your gross income?(Loan modification kits can
help with all financial calculation your lender may want to see)
4. Are you must be able to prove you have current income?
5. Do you currently have a job?
1. Do you live in the home?
2. Is your current loan amount within the Fannie Mae conforming limits ($625,500 in high cost areas
and for other areas it is $417,000)
3. Are your current house payments more than 31% of your gross income?(Loan modification kits can
help with all financial calculation your lender may want to see)
4. Are you must be able to prove you have current income?
5. Do you currently have a job?
1. Do you live in the home?
2. Is your current loan amount within the Fannie Mae conforming limits ($625,500 in high cost areas
and for other areas it is $417,000)
3. Are your current house payments more than 31% of your gross income?(Loan modification kits can
help with all financial calculation your lender may want to see)
4. Are you must be able to prove you have current income?
5. Do you currently have a job?
Obama Loan Modification Eligibility Information
You may be asking, “Who is qualified for Obama’s Loan Modification Plan?” With our current crisis with the economy, it has shown many homeowners in distress and needing of help. They are not able to pay their monthly mortgage payments and are struggling to keep up with the reduction of their property value.
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